Estate Planning Basic Skills Out of Stock
Co-sponsored by the CBA Trust and Estate Law Section
Quantity
February 2014
Estate Planning Basic Skills
Program Highlights:
- Information Gathering and the Initial Client Interview
- Introduction to Transfer Taxes
- The Planning Process; The Drafting Process
- Execution of Documents and Follow-up Issues
- Planning for Disability
- Planning for Single Clients and Smaller Estates
- Introduction to Ethics in Estate Planning
- Planning for Married Clients and Larger Estates
- Introduction to the Marital Deduction; Planning to Minimize Estate Taxes
- Uses of Life Insurance in Estate Planning
- Revocable Living Trusts
- Traps to Avoid: The 10 Most Common Problems and Pitfalls as Seen Through the Eyes of the Bench, Including Malpractice
- Presentation and Discussion of Hypothetical Fact Patterns
Program Description:
Experienced estate planning attorneys discuss the best tools to employ in common situations. Timely topics include the planning and drafting process, ethical concerns, transfer tax issues, planning for smaller estates, estate planning with life insurance, and more. The latter part of the program includes sessions in which the members of the faculty apply the concepts just taught to typical client fact patterns. Finally, a judicial panel discusses important problems and pitfalls that estate planning attorneys face. The Colorado Estate Planning Forms (Orange Book) is a valuable tool used in conjunction with this program and is available through CBA-CLE's Bookstore.
Agenda:
DAY 1 - Thursday, February 20
Please note early start time
8:10 - 8:40am
Registration and Continental Breakfast
8:40 - 8:50am
Welcome and Introduction
Extended by Mark D. Masters, Esq., Program Chair
8:50 - 9:20am
Information Gathering and the Initial Client Interview
- Using questionnaires to obtain essential personal and financial Information
- Educating your client regarding the estate planning process and proposed instruments
- Exploring sensitive matters such as blended families and problem children
- Counseling clients who need what they don't want or want what they don't need
Presented by Frank T. Hill, Esq., and Kerri Klein, Esq.
9:20 - 10:15am
Introduction to Transfer Taxes
- Elements of the gross estate
- Transfer tax savings through wise use of deductions and credits
- Overview of gift taxation
- Selected income and generation-skipping tax issues
Presented by Mark D. Masters, Esq.
10:15 - 10:30am
The Planning Process; The Drafting Process
- Designing a practical plan to carry out the client's wishes, while minimizing taxes and administrative costs
- Nuts and Bolts I: Statutory requirements and elements of a good, dispositive document
- Nuts and Bolts II: Disposing provisions, selecting fiduciaries, etc.
- Coordinating will provisions with other estate planning documents and nonprobate assets
- Common drafting problems and errors
Presented by Frank T. Hill, Esq., and Kerri Klein, Esq.
10:30 - 10:40am
Networking Break
10:40 - 11:25am
The Planning Process Continued
11:25 - 11:50am
Execution of Documents and Follow-up Issues
- Ensuring proper execution
- Asset balancing
- Changing beneficiary designations and retitling assets
Presented by Frank T. Hill, Esq., and Kerri Klein, Esq.
11:50am - 12:20pm
Q&A Session and Panel Presentation by Morning Faculty
Panel Moderator: Mark D. Masters, Esq.
12:20 - 1:30pm
Lunch (On Your Own)
1:30 - 2:10pm
Planning for Disability
- Advance medical directives: medical power of attorney, living will, CPR directive
- Proxy decision maker
- Financial powers of attorney
- Parental delegation of guardianship
- Medical Orders for Scope of Treatment (MOST)
Presented by M. Carl Glatstein, Esq.
2:10 - 2:50pm
Planning for Single Clients and Smaller Estates
- Widows and widowers
- Divorced clients
- Unmarried couples
- Using contingent trusts for children or grandchildren
- Considerations when planning the smaller estate
- Elderly clients
Presented by Erica Johnson, Esq.
2:50 - 3:00pm
Networking Break
3:00 - 3:45pm
Planning for Married Clients and Larger Estates
- Yours, mine and ours: Second marriages and blended families
- Using contingent trusts for children or grandchildren
- Planning for problem adult children
- Non-tax considerations when planning the larger estate, such as distributions of business interests, etc.
- Which tax apportionment clause is appropriate
- Married with children
Presented by Nancy Peterson, Esq.
3:45 - 4:15pm
Q&A Session and Panel Presentation by Afternoon Faculty
Panel Moderator: Mark D. Masters, Esq.
4:15pm
Adjourn
****************************
Day 2 - Friday, February 21
9:00 - 9:30am
Revocable Living Trusts
- Using a funded revocable trust as the dispositive document
- Using an unfunded standby trust
- The need for a pour-over will
Presented by Julia Griffith McVey, Esq.
9:30 - 10:20am
Uses of Life Insurance in Estate Planning
- Types of life insurance policies
- Life insurance to provide estate liquidity and pay debts
- Paying estate taxes cheaply - an introduction to the irrevocable life insurance trust
Presented by Lisa Blattner, Esq.
10:20 - 10:30am
Networking Break
10:30 - 11:30am
Introduction to the Marital Deduction; Planning to Minimize Estate Taxes
- Basic formulas of marital deduction planning for taxable estates
- Disclaimer trust planning
- Combined marital trust/bypass trust planning: The A and B trusts
- Using QTIP provisions
Presented by Jennifer Spitz, Esq.
11:30am - 12:00pm
Q&A Session and Panel Presentation by Morning Faculty
Panel Moderator: Mark D. Masters, Esq.
12:00 - 1:15pm
Lunch (On Your Own)
1:15 - 2:05pm
Introduction to Ethics in Estate Planning
- Representing multiple clients: Navigating through confidentiality and potential conflicts of interest
- Representing clients with disabilities or questionable competency
- Who is my client? Identifying troublesome situations
- Engagement/disengagement letters
Presented by David W. Kirch, Esq.
2:05 - 2:55pm
Traps to Avoid: The 10 Most Common Problems and Pitfalls as Seen Through the Eyes of the Bench, Including Malpractice
Presented by Magistrate E. David Griffith (Ret.), Judge John P. Leopold (Ret.), and C. Jean Stewart, Holland & Hart, former Denver Probate Judge
2:55 - 3:05pm
Networking Break
3:05 - 4:30pm
Presentation and Discussion of Hypothetical Fact Patterns
Presented by the Faculty
Panel Moderator: Mark D. Masters, Esq.
4:30pm
Adjourn
- CLE Pass Price *FREE! - exclusions may apply
- Standard Price $399.00 USD
- Member Price $369.00 USD
- General Credits 14.00
- Ethics Credits 1.00
- EDI Credits